NAIROBI (CoinChapter.com)— In a move highlighting crypto market unpredictability, TON Blockchain saw its meme coin REDO price soar by 200% after a logo change.
The rebranding, which introduced Resistance Dog (REDO) as the new logo, triggered a surge in market activity. Traders jumped on the hype, pushing the token’s value to new heights despite no improvements in the project’s fundamentals.
Telegram responds to claims regarding platform responsibility. Source: Telegram/X
The surge wasn’t solely about the logo change. The arrest of Telegram founder Pavel Durov in Paris intensified the situation. REDO’s connection to the TON ecosystem and its symbolic stance against censorship turned it into a rallying point.
The Resistance Dog project, which claims to champion “freedom through digital resistance,” attracted significant interest and investment after the arrest, further driving up the token’s value.
A Trader’s Windfall Amid the Resistance Dog (REDO) Frenzy
The surge in REDO (Resistance Dog) coin wasn’t just a fleeting market anomaly; it provided a substantial profit for those quick enough to capitalize on the opportunity.
A savvy trader, having amassed 881,000 REDO tokens, saw their holdings swell in value, allowing them to offload the tokens for a profit of 107,275 $SOL, equivalent to $606,000. The transaction yielded 12x returns.
Lookonchain tweeted about a trader’s profits after the TON blockchain rebrand. Source: X
But the story doesn’t end there. The same trader also recorded impressive gains from other tokens within the TON ecosystem. The trader earned additional profits through trades involving Ton Inu (TINU) and Paper Plane (PLANE), with returns reaching 35x and 62x, respectively.
Their trading spree across 11 memecoins netted them a cumulative profit of 115,387 TON, or approximately $652,000.
Riding the Meme Wave: How Long Can This Last?
The recent surge in TON Blockchain’s meme tokens shows how quickly prices can inflate due to superficial changes and unexpected events. A logo change and the arrest of a tech CEO sparked a 200% rally, raising questions about the long-term viability of such tokens.
Are these prices sustainable? Probably not. But for now, traders are riding the wave until it crashes.
Meme token rallies seldom last long. The hype fades, prices drop, and traders move on. The story of REDO, which rose due to a logo change and an arrest, adds another chapter to the unpredictable world of cryptocurrencies. Quick moves can lead to gains in the space—until the next meme token emerges.
REDO/USD 1-day price chart. Source: CoinMarketCap
REDO (Resistance Dog) coin is priced at $0.8094, up 29.52% in the past 24 hours. Its market cap is $80,606,642, and its 24-hour trading volume surged by 125.23%.
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